The Other Side of Life 24/7: Daily Investor Briefing: Oil plunges 3 percent to new...

Friday, December 12, 2014

Daily Investor Briefing: Oil plunges 3 percent to new...

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12/12/2014

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

Oil plunges 3 percent to new five-year lows after bearish IEA outlook

NEW YORK (Reuters) - Crude oil markets fell 3 percent or more to plumb new five-year lows on Friday after the world's energy watchdog forecast even lower prices on weaker demand and larger supplies next year.

Oil slump leads Wall Street to worst week in 2-1/2 years

NEW YORK (Reuters) - U.S. stocks fell sharply on Friday, leaving the benchmark S&P 500 with its worst weekly performance since May 2012, as investors pulled back from the markets in response to oil's free-fall and more weak data out of China.

After years of doubts, Americans turn more bullish on economy

WASHINGTON (Reuters) - Pessimism and doubt have dominated how Americans see the economy for many years. Now, in a hopeful sign for the economic outlook, confidence is suddenly perking up.

Chrysler expands Takata passenger-side air bag recall in U.S.

DETROIT (Reuters) - Chrysler Group is expanding its U.S. recall of older-model vehicles with Takata Corp passenger-side air bags, adding a second inflator design to the recall and more affected regions.

U.S. consumer sentiment at eight-year high

NEW YORK (Reuters) - U.S. consumer sentiment rose in December to a near eight-year high on improved prospects for jobs and wages and on lower gasoline prices, a survey released on Friday showed.

Slow demand, rising supply put further pressure on oil price: IEA

LONDON (Reuters) - Oil prices are likely to come under further downward pressure, the International Energy Agency said on Friday, as it cut its outlook for demand growth in 2015 and predicted healthy non-OPEC supply gains would aggravate a global oil glut.

Draghi to urge European leaders to reform to back ECB stimulus

FRANKFURT (Reuters) - The head of the European Central Bank is set to tell European leaders in stark terms at a summit next week that they need to reform straggling economies or risk blunting an ambitious monetary offensive to help revive the stagnant euro zone.

Board of Brazil's Eletrobras OKs Petrobras debt renegotiation

SAO PAULO (Reuters) - Brazil's state-run power company Eletrobras said on Friday its board had approved a plan to renegotiate 8.5 billion reais ($3.2 billion) in debt owed to state-run oil firm Petroleo Brasileiro SA .

U.S. authorities face new fallout from insider trading ruling

NEW YORK/WASHINGTON (Reuters) - U.S. prosecutors, already smarting from a appeals court ruling that weakens their ability to crack down on future insider trading, on Thursday faced widening fallout from the decision as some existing cases threatened to unravel.

Tesco's new boss looks to avoid nightmare before Christmas

LONDON (Reuters) - Dave Lewis, the new boss of Tesco , Britain's biggest grocer, is betting on a customer charm offensive coupled with selective price cuts to prevent poor Christmas trading compounding an already disastrous year for investors.